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michaelirish

The End of Nuclear Power?  

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US Government Caps Uranium Price

The uranium spot price had been sailing furiously northward when a couple of weeks ago a large non-industry seller came into the market with an order of 800,000lbs to sell and sparked a blow-off top. Having peaked at US$73.00/lb a month ago, last week spot uranium fell US75c to US$66.75 on the basis of industry consultant TradeTech's price indicator. Last week four transactions were concluded totalling over 400,000lbs, TradeTech notes.

Spot uranium had been trying to consolidate after the one big sell order clipped the runaway rally, but news from the US government during the week rather took the wind out of the uranium market's sails. The US Department of Energy announced it would transfer a total of 4.2mlbs of U3O8 equivalent out of government stockpiles over the period 2011-13. The intention is to raise funds for the ongoing clean-up of the Portsmouth, Ohio, enrichment facility. The expectation is that the material will be sold at spot, albeit Requests for Proposals from the buy-side have been sought. One thus assumes the DOE will not simply be slapping every bid.

The total amount for sale will be evenly split into quarterly amounts of 300,000lbs. This overhang will no doubt serve to cap the market in the near term. Macquarie analysts nevertheless note that the release of DOE reserves has been expected and has been factored into price forecasts. The announced amount, however, is about 60% more than assumed. So Macquarie suggests the news is "incrementally bearish".

http://www.fnarena.com/index2.cfm?type=dsp...41F82700B063DED
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The Federal Government is taking the first steps towards selling uranium to the United Arab Emirates, which is planning a nuclear energy program.

 

Foreign Affairs Minister Kevin Rudd says Australia has begun negotiations on a bilateral agreement with the UAE that would specify the peaceful use of nuclear energy, a precursor to uranium sales

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from http://seekingalpha.com/article/255632-wil...wc&wc_num=4. Although the below is US orientated there are plenty of Aussie stocks this applies to eg PDN and BKY spring to mind

 

 

Will 2011 Be the Year of M&A for Uranium Stocks?

 

A speculator is someone who can look into the future and act now. In early October, I saw a major development in the uranium sector as I began seeing signs of a major breakout of many of the uranium miners, via the Global X Uranium ETF (URA).

 

Uranium stocks have tripled since that time and are now taking their first major breather. During this time we have seen major investors come into the market, specifically from China. This interest in uranium was highlighted back in June 2010 when China National Nuclear signed a contract with Cameco (CCJ) to supply 23 million pounds of uranium. This showed how aggressive China has become and took a large amount of the supply off the table.

 

Cameco is on the record as looking for additional acquisitions. Already it has inked a deal with Uranium Resources (URRE) to explore a property in south Texas. Paladin (PALAF.PK), an emerging producer, bought the controversial Michelin Property from Fronteer Gold (FRG) for about $250 million in November. Russia's state-owned ARMZF.PK purchased Mantra Resources (MNRZF.PK) for almost $10 a pound of uranium in the ground. Mantra controls the Nyota deposit and will be able to produce five million pounds of uranium a year.

 

This is proof that the nuclear industry is heading into consolidation. This year, expect to hear more news, especially as prices pull back to support, like what is occurring now.

 

[Click to enlarge]

http://static.seekingalpha.com/uploads/2011/3/1/saupload_02_28jeb_thumb1.jpg

Market corrections are valuable. Uranium stocks are all pulling back to support and reversing higher. Over the past few months, I have highlighted the role nuclear is playing in emerging markets, especially China, Russia, India and South Korea. Even the Middle East, which has vast resources of oil, is looking to expand its nuclear capability.

 

I believe investors will look back at this correction as a great buying opportunity. Acquiring companies may use the next few weeks to make deals as share prices take a breather. Similarly, Fronteer Gold was acquired by Newmont (NEM) specifically during the gold (GLD) consolidation in January. Large companies use profit-taking and sell-offs to make offers.

 

All over the globe, nuclear is being recognized as an integral part of clean energy generation in a developing and expanding world. President Barack Obama has announced more than $8 billion in federal loan guarantees for the first nuclear power plant in the United States in close to 30 years. Obama says investing in nuclear is critical for the United States, as it will reduce U.S. dependence on foreign oil and help the U.S. economy by creating high-wage jobs.

 

The Middle Eastern turmoil is a wake-up call to our elected leaders in Washington, who have not been proactive in developing efficient and clean alternativemenergy sources. One pound of uranium is equal to 20,000 pounds of coal. Despite the ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Deepwater HorizonÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ and ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Upper Big Branch,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ there has not been a push for safer and cleaner nuclear energy.

 

Unfortunately, the U.S. has been asleep at the switch like Homer Simpson, and the earliest a new reactor will be built is late 2011. Southern Company (SO) has a pending application for a reactor in Georgia, which it says will create 3,000 jobs and generate power for 1.4 million people.

 

However, I believe leaders around the world are realizing nuclear is the only viable choice for clean energy. Obama, who has a large constituency of environmentalists, has given the green light on nuclear. It doesnÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢t take a high IQ to realize the demand from emerging economies for nuclear power. There are supply concerns, as Russia is not renewing its agreement to supply the U.S. with converted uranium from nuclear weapons. The U.S. must move quickly, and domestic uranium miners are just beginning their secular bull market trends. I believe we will begin seeing a major consolidation in this sector as many of the larger producers (such as Cameco, Uranium One (SXRZF.PK) and Paladin), as well as sovereign countries, continue to acquire reserves. Look for deals to occur on pullbacks.

 

 

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China Halts Approval of New Nuclear Projects Amid Checks After Japan Leaks

By Bloomberg News -Mar 17, 2011 1:33 AM GMT+1300

China has suspended approval of new nuclear projects and will conduct safety inspections of all nuclear power plants under construction in the wake of the radiation leaks in Japan, the State Council said. "Approvals of new plants will be suspended including those in the pre-development phase until safety and improved long-term development plans are cleared," the council said after a meeting chaired by Premier Wen Jiabao. The country's nuclear power plants are all operating safely, the statement said.

China has about 13 operational nuclear power reactors and is building more than 25, according to a report on the World Nuclear Association's website. Japanese Prime Minister Naoto Kan, facing a nation reeling from its strongest earthquake on record, said yesterday the danger of further radiation leaks has increased at the Fukushima Dai-Ichi, 135 miles north of Tokyo, which has six reactors.

"We must fully understand the urgency and importance of nuclear safety and prioritize it in the development of nuclear power," the State Council said in the statement. China plans additional reactors to provide more than a 10-fold increase in atomic capacity by 2020, according to the World Nuclear Association's the report shows.

The magnitude-9 earthquake the struck Japan March 11 left hundreds of thousands stranded and without power, with disruptions to food and water. Hundreds of cars streamed south from devastated areas as a few dozen technicians battled to contain fires and radiation leaks at the nuclear power station.

'No Impact'

Tokyo Electric Power Co. said a reactor containment vessel may have been breached at the crippled Fukushima Dai-Ichi power plant, deepening Japan's nuclear crisis and increasing the risks of radioactive leaks.

"The nuclear accident won't have any serious impact on China's nuclear industry and we won't alter our long-term development plans," China National Nuclear Corp. President Sun Qin said in an interview in Beijing on March 14.

China is relying on alternative energy sources such as nuclear power as it tries to sustain growth and minimize environmental damage. The nation wants at least 15 percent of its energy mix to come from non-fossil fuels by 2020 and is building more atomic plants to help meet that goal.

German Chancellor Angela Merkel has put plans to extend the life of Germany's reactors on hold for three months while the implications of events at Fukushima are examined. The British government ordered a review of nuclear safety, and Swiss policy makers put projects to renew three of their country's five nuclear power stations on hold, the Environment Ministry said on March 14 in an e-mailed statement.

http://www.bloomberg.com/news/2011-03-16/c...apan-leaks.html

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Oilbarrel.com this week.

 

Will the disasters in Japan halt the so-called nuclear renaissance to which the industry is looking forward to as the world begins to warm to a carbon-free source of electricity that would reduce its dependence on fossil fuels and politically unreliable sources of the same?

Some people do not think so. One correspondent, who does not want to be named, emailed us following a suggestion we made that concerns over nuclear accidents might make some governments review their programmes and said: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“What is the matter with you. People follow their economic self interest. Oil is too expensive already. Coal and gas can only be substituted in some cases. That means weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ll continue to have nuclear power albeit with much tighter controls, safeguards and walls. These were ancient reactors that went down. The newer ones are built differently with much stronger containment walls and encasements. TheyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ll build higher walls to keep out tsunamis, but apart from that theyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ll continue their merry games.

Did Chernobyl stop the development of nuclear power plants? Not in the slightest. And this is (so far and also according to what the experts predict) not even equivalent to one-tenth of the disaster that was Chernobyl. People have short memories. Give it two years and theyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ll be building nuclear again.

Others are not so sure. The highly regarded Clive Cookson of the Financial Times thinks there could be long term effects. Writing in the FT he says ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Fukushima has already cast a big shadow over the nuclear renaissance. Germany showed the first sign of this recently when protesters urged the government to drop plans to extend the life of its atomic reactors. The demonstration had been planned for some time but crowds of about 50,000 turned up after news of the Japanese disaster.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“In the UK, where plans are well advanced to build up to 11 new reactors over the next 15 years, the government asked its chief nuclear inspector, Mike Weighman, to prepare a report on the implications of the situation in Japan and any lessons that can be learnt from the disaster.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

Cookson continues: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Looking further ahead, any worldwide setback for nuclear energy may encourage governments and the private sector to increase investment in other non-carbon energy sourcesÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦The problem is that the two main contenders solar and wind are intermittent and their increasing use is already a challenge for electricity grid managers. But the disaster is likely to increase long-term demand for natural gas, which emits less carbon dioxide than coal and is becoming more readily available thanks to new production techniquesÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ.

Adam Forsyth, analyst at merchant banker Matrix, agrees there could be long terms repercussions from the Japan calamity and also that gas prices in particular could be effected. In a paper entitled ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Matrix analyst note: nuclear policy: quantifying the possibilitiesÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ, he writes: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The events in Japan are likely to have shifted the publicÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s perception of nuclear energy. It is still very early to say exactly how this will affect the UK power sector. However we think the potential for change should not be underplayed.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

In the short term Forysth says: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“With the story still unfolding, we donÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢t want to leap to conclusions, but we think it is safe to say the first four reactors at JapanÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Fukushima nuclear plant are not going to return to service. Three other nuclear Japanese plants have reportedly suffered incidents in the quake or tsunami and are currently shut down. The German government has also shut down seven of its oldest reactors for three months.

To replace this amount of generation with gas-fired plant would require just under 13 bcm of natural gas per annum, we estimate, equivalent to 0.4 per cent of current gas consumption and just over 5 per cent of traded LNG. With LNG key to marginal supply in the UK prices have already responded with the first year-ahead contract up 9 per cent.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

Looking at the longer term Forsyth says: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“While many governments may have little practical alternative but to stick with nuclear for the time being, at the very least, we think it safe to say that the long term policy impact is unlikely to lead to lower gas prices.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

 

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China is the biggest driver of whether nuclear continues its growth. China has already stated that it is reviewing this. This talk of reviewing their program has knocked the spot price around (who really knows about term prices??). The price movement south suits Chinese interests. They will continue expanding the geographical footprint of controlled resources. They are playing a longer game and will be happy to put their foot on the neck of as much U3O8 so they can to secure their future energy needs. Talking the industry down is one of the ways to push the industry around to a more advantageous position.

 

For those with longer term views nothing much has changed for those with medium term views it might materially push out the timelines by 18mth to 2yrs which can hurt a bit. For short termers they have had their butts kicked (including a few of my more spec positions that I didn't close quickly enough).

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